“The expense of running a spa or salon and obtaining the most up-to-date equipment is not to be underestimated”
If customers found it hard to secure an appointment at their favourite beauty, hair, nail or tanning salons pre-pandemic, they are certainly going to have to demonstrate some real patience now.
According to this recent study in The Independent1, the average British female spends £70,000 on beauty and aesthetics in a lifetime – and that’s just women.
With any pampering over the past months being dubious
DIY in the bathroom and having your hair cut by your other half, individuals are likely to be more inclined than ever to indulge in some self-care and try to restore their appearance to its pre-isolation glory.
What the numbers say...
The figures from the 2019 report conducted by the National Hair and Beauty Federation2 reveal some compelling statistics.
There are over 40,000 hair and beauty businesses in the UK, and in recent times, these small-to-medium companies have generated over £7.5 billion for the economy.
In comparison to other sectors, the hair and beauty industry has demonstrated a higher survival rate than the majority of its competitors.
This endurance could have been put to the greatest test, with over half the workers in this sphere being self-employed – one of the demographics that have been hit the worst during the Covid-19 closure period.
The beastly costs...
The expense of running a spa or salon and obtaining the most up-to-date equipment is not to be underestimated.
The latest state of the art technology across equipment such as an IPL hair removal machine, microdermabrasion machines or tanning beds comes at a cost. As an example, Sage estimate the equipment start-up cost for hair salons to be in the region of £20,500, with up to £1,700 a year on computer and POS systems. If this equipment were instead leased, it could help to stabilise self-employed owners in times of crisis.
Added pressure...
Along with any challenges they may experience financially, on reopening, operators in this high-contact sphere will be undergoing more scrutiny than ever in regards to their hygiene and general maintenance practices.
This is likely to make a significant impact, impeding on the business owners time and requiring further outlay for the most creditable in sanitisation and cleaning apparatus.
A beautiful alternative...
Here is where GRENKE can offer those suppliers looking to support beauty businesses the ideal solution. In leasing equipment to salon owners, financial pressure can be dramatically decreased, which will be crucial during this period of rejuvenation.
GRENKE offers tailor made leasing packages to support varied beauty equipment assets. They are easy to integrate for a supplier and can give your sales team the advantage when it comes to gaining and retaining customers.
Moving forward...
In this coverage by the BBC3, the extent of the hardship endured by self-employed workers, of which there are 5 million in the UK, is gravely acknowledged.
Providing this popular sphere with leasing options could have us all looking and feeling much healthier in the mirror and on the balance sheet.
Find out more about becoming a GRENKE Partner and how it could work for your sales strategy.
Footnote:
1/Sarah Young/The Independent, 03/2017
2/National Hair and Beauty Federation (NHBF), 2019
3/Mary-Ann Russon/BBC News, 03/2020
